Best Buy (BBY) Revenue — Quarter Ended Jul 29, 2023
Revenue in the latest quarter declined sharply compared with the same period a year earlier. Sequentially, revenue showed a modest uptick from the immediately preceding quarter.
Key takeaway
Quarter ended Jul 29, 2023 · FY2024 Q2
Revenue in the latest quarter declined sharply compared with the same period a year earlier. Sequentially, revenue showed a modest uptick from the immediately preceding quarter.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$9.6B
Revenue reported for this quarter.
Quarter-over-quarter
+1.2%
Change from the immediately preceding quarter.
Year-over-year
-7.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$44.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 29, 2022 | $10.6B | -11.1% |
| Jan 28, 2023 | $14.7B | -10.0% |
| Apr 29, 2023 | $9.5B | -11.1% |
| Jul 29, 2023 | $9.6B | -7.2% |
Revenue performance
The reported revenue declined from the prior-year quarter, reflecting a substantial year-over-year contraction. On a sequential basis, however, revenue improved modestly from the previous quarter.
Quarterly comparison
Compared with the immediately preceding quarter, revenue rose, breaking a pattern of sequential declines seen in the prior two quarters. Compared with the same quarter one year earlier, revenue was lower, continuing a trend of year-over-year decreases over the past four quarters.
What to watch
Monitor whether the sequential revenue improvement can be sustained amid the continued year-over-year contraction.